Australia's Proteomics slips to four-month low on discounted share sale plan

Proteomics International Laboratories

Mon 24:46

** Shares of Australia's Proteomics International Laboratories PIQ.AX fall as much as 16.7% to A$0.10, their lowest levl since June 30
** Stock logs its steepest intraday drop since May 7
** The bioanalytical services provider announces a share purchase plan to raise up to A$5 million ($3.52 million) at an issue price of A$0.10 apiece 
** Issue price represents a 20% discount to the stock's last closing price
** Proceeds to be used to fund commercial execution, clinical and reimbursement programmes, product launch activities and US market readiness initiatives
** Proteomics stock down 84.7%, YTD

($1 = 1.4225 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)
 ((Keshav.singhchundawat@thomsonreuters.com))